More Beards, Better Business

Perth is on the edge of a major housing reshuffle, according to demographer Bernard Salt.

Speaking at the Property Council’s Multi Unit Residential Development Conference, Salt said that apartment living is about to break through as a major buying preference as it has in other cities such as Sydney and Melbourne.

 The major cause of this shift is our aging population and the rise of the Hipster generation.

“Simply put, the more beards you see around the city, the better the market for apartments will be,” Salt quipped to a crowd of 200 property industry professionals.

” You can’t have the weight of baby boomers, and immigrants, and knowledge worker hipster focus and not reach  a tipping point, and that may well be the end of the decade, every other city has moved in that direction, why not Perth?” he said.

Urbis Director David Cresp also predicted that within five to ten years, apartments will account for up to 30% of dwellings up from the current rate of 18%.

“The biggest issue Perth is facing is transport infrastructure. However, the sourcing of funding and the high cost of infrastructure is a concern for new projects,”Salt said

“Greater density and the decentralising of jobs into suburban hubs is the only answer.”